Tables turn on Finance Minister Enoch Godongwana

South Africa's economic growth forecast has been slashed from 1.8% to a mere 1% due to surging oil prices and a weakened rand, a stark reversal of fortunes for Finance Minister Enoch Godongwana. This unexpected turn of events comes as the government prepares to release its Medium-Term Budget Policy Statement (MTBPS), a test of credibility for the administration, which had previously celebrated a successful Budget in February. The MTBPS will now be a resilience test, with Godongwana set to provide an update on government spending and revenue amidst the economic uncertainty.